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Broker-owner Luke Monroe established Kendrick Realty with the mindset that if brokerages and agents could work together toward the same goals, it would be better for all groups. So at Kendrick, he focuses on handling a lot of the tasks that real estate agents typically don’t enjoy — lead generation and lead organization, for example — and free up agents to tackle the client work and negotiation that they typically do enjoy. (This approach works equally well for teams.)
That meant he had to build a reliable and scalable prospecting system, though, in order to attract and keep the best agents. He’ll explain how he did it using technology in a special session at Inman Connect San Francisco, July 17 through 20 at the Hilton San Francisco Union Square, as part of the event’s weeklong education, programming, and networking for the real estate industry.
Monroe described three “verticals” that he leverages in order to maximize his lead generation and organization strategy. The agents are still required to conduct the typical sales activities to the best of their abilities and keep clients happy — vertical no. 1. The second leg of the three-legged stool is what he calls “a very intensive IT side,” which includes the website and client search platforms that generate leads in addition to a CRM platform. The CRM “has been absolutely critical to our organization to keep track of leads and where clients are in the process, and track accountability,” Monroe believes.
Finally, he says that Kendrick has “a huge focus on investing in and training our Realtors.” He spends thousands of dollars a month just to advertise his agents, and he says that with that kind of investment, he doesn’t have the ability to ignore “an agent who’s floundering or struggling or doesn’t quite get it.”
And Monroe believes that he’s adapting to a new reality that much of the brokerage industry doesn’t see coming. “How business is transacted is continuing to change,” he notes. “If we as brokers don’t evolve and get organized and find real reasons to engage with our teams instead of just treating them as passive tools that we’re collecting from, it’s not going to go well for a lot of brokerages.”
Hear Monroe outline his prospecting strategy and how he’s adapting to the shifting industry landscape at Inman Connect San Francisco this summer.
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